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In the video game industry, 2020 saw the launch of the next generation of video game consoles, with both Microsoft and Sony Interactive Entertainment having released the Xbox Series X/S and PlayStation 5 consoles, respectively, in November 2020. The industry was heavily affected by the impact of the COVID-19 pandemic which had begun in March and was characterized by COVID-19 lockdowns and remote work. While this caused numerous delays in software and hardware releases and the cancellation of live conferences and events in favor of virtual shows, it also created a boom for the industry as people turned to gaming as a means to pass the time. The industry also reacted to various political/cultural events.
Mobile gaming continued its growth as a major platform for video gaming; as part of this, Epic Games initiated the Epic Games v. Apple lawsuit over mobile app store revenue cut policies. Major planned acquisitions included Xbox Game Studios' acquisition of ZeniMax Media and its subsidiaries, and Electronic Arts outbidding Take-Two Interactive for Codemasters.[1]
Top-rated games
Major awards
Critically acclaimed games
Metacritic is an aggregator of video game journalism reviews. It generally considers expansions and re-releases as separate entities.
Financial performance
The global market for video games based on 2020 revenues was estimated to exceed $179.7 billion according to the International Data Corporation; the growth of 20% over 2019 revenues is attributes to the surge in spending in video games from the COVID-19 pandemic along with the releases of the new consoles.[10]
SuperData Research estimated the global video game market grew by 12% in 2020 to a total $139.9 billion in revenues. Mobile games accounted for over $73.8 billion or 58% of the market, with computer games at $33.1 billion and console games at $19.7 billion. Virtual and augmented reality had about $6.7 billion, while video gaming content such as online streamers generated an additional $9.3 billion.[11][12]
Newzoo estimated the global market for video games in 2020 was $177.8 billion, a 23.1% increase from 2019, buoyed by the COVID-19 pandemic. As a result, Newzoo anticipated that the 2021 market will see a small decline as the world recovers from COVID-19 and spending on video games slows down, but otherwise the industry would remain on track to break $200 billion in revenue by 2023.[13]
According to PricewaterhouseCoopers, while the overall global entertainment and media market dropped by 3.8% during 2020, the video game market grew by 10% over the year, due to the use of video games to help with social distancing during COVID-19 lockdowns.[14]
Largest markets
According to market research firm Newzoo, the following countries were the largest video game markets in 2020.[15]
| Rank | Country | Revenue |
|---|---|---|
| 1 | China | $45,642,000,000 |
| 2 | United States | $39,065,000,000 |
| 3 | Japan | $20,763,000,000 |
| 4 | South Korea | $7,530,000,000 |
| 5 | Germany | $5,702,000,000 |
| 6 | United Kingdom | $5,117,000,000 |
| 7 | France | $4,024,000,000 |
| 8 | Canada | $3,551,000,000 |
| 9 | Italy | $3,205,000,000 |
| 10 | Brazil | $2,288,000,000 |
Highest-grossing games
The following are the top ten highest-grossing video games of 2020. Each of the top ten titles grossed more than $1 billion, while the top four grossed more than $2 billion each.[11][16] The majority of the top ten titles are published by Asian companies, including three from Chinese conglomerate Tencent which holds the top two spots.[11]